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On Thursday, Metaco, an enterprise cryptocurrency platform for securing, trading, issuing and managing digital assets, announced the addition of UnionBank as its latest client. Founded in 1982, UnionBank is one of the largest banks in the Philippines, with assets under management totaling $15 billion. UnionBank will also deploy its digital asset management services on IBM Cloud, which are fully integrated with Metaco’s solutions.
Through the integration, UnionBank will be able to improve the insurability of assets with FIPS 140-2 Level 4 certified key management and migration controls. FIPS 140-2 is the highest level of the US government computer security standard. In addition to detecting and responding to all unauthorized physical access attempts, the protocol also protects against environmental factors that lead to data loss or leakage.
At the same time, Metaco’s solutions support use cases for financial institutions such as trading, tokenization, smart contract management, and participation in decentralized finance. Henry Aguda, Senior Executive Vice President, Chief Technology and Operations Officer and Chief Transformation Officer at UnionBank, issued the following statement on the development:
We are passionate about meaningful and sustainable renovation. We value our strategic partners like METACO and work with them to build a meaningful alliance in pursuit of a shared vision. For UnionBank, the shared vision is customer-centric, driven by emerging technologies and innovations.
Last year, Metaco form a partnership Deploy its digital asset management system on the latter with IBM Cloud. Metaco, founded in Switzerland nearly eight years ago, has previously completed a Series A financing $17 million At the end of 2020.
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